CFO
FALKAT INDUSTRIAL LDA Group, Dubai, Luanda-Angola
Total years of experience :17 years, 7 Months
• Controlling Finance and Accounts Functions
• Developing SOP and update of Policies & Procedures. And communicates group accounting policies and procedures.
• Strategic decision making, Developing Key Initiative, Business Plan, Feasibility Study, KPIs
• Budgeting, Forecasting, Balance sheet and cash flow forecast modelling.
• Processes improvement, liaison with finance managers to resolve issues, reviewing territory results, budgeting and forecasting and controls
• Segregation of Duties and optimization of efficiency of end-to-end processes.
• Reviewing weekly, monthly reporting the group and all three entities. Provides direction and guidance to finance team.
• Liaison with Auditors, ensuring timely audit. Implement and monitoring audit recommendations.
• Monitoring weekly finance operations, liquidity, intercompany funding and inter-company reconciliation activities
• Monitor and control the group consolidation process of actual results, variances, reason for variance and observations and action plan and recommendation
• Implement and follow IFRS accounting standards and compliance of local rules and regulations
• Monitoring the actual performance of group against business plan, and previous year’s performance of profitability, balance sheet, working capital, cash flow.
• Controlling Accounts and Finance Functions
• Process re-engineering, Process mapping, Developing Policies
• Strategic decision making
• Acting Chairperson of Tender Committee, acting member of Investment Committee, Acting member of Information Technology Committee
• Working on Robotic Process Automation
• Working Vendor Portal implementation
• Budgeting, Monthly MIS, Cash Flow Management
• VAT Refund processing
• Implementation of Cyclic Inventory Process
• Guidance on Auto Replenishment Process Implementation
• Implementation of smart banking channel for remittance or payment vendor, salary, e-dirham, naqudi, utilities
• Working on Inter-company process automation
Implemented VAT Compliance Accounting Services in the Group, Providing VAT Training and VAT Awareness Program across the Group, VAT Liability calculation, Review of Policies and Procedures, Implementation of Capital Budget Scheme as per VAT Law in UAE in Capital Project, VAT Return Submission, Attending Board Meeting for VAT Clarification Requirements, Working on IFRS.
Validation of Full Tax Invoice Format across the board, Validation of Simplified Tax Invoice Format across the board, Validation of Tax Credit Notes Format.
Validation of VAT compliance Accounting, Reverse Charge Mechanism support service, Validation of VAT Return Format, Review of monthly VAT Return (Exceeding threshold limit of AED 150 million), Monthly VAT liability payment clearance through e-dirham channel,
VAT compliance pricing strategy, VAT compliance promotion strategy, Input VAT credit validation, VAT invoice issuance time strategy, VAT liability validation/Point of VAT liability creation, VAT compliance return policy by customers, Adoptions of Update/Amendment of VAT Executive Regulations of FTA on regular basis,
Rebate calculation with documentation mechanism as per VAT Law,
Impact on financial transactions before and after VAT implementation date 01-01-18 in the
period of transition, Impact on commercial property leasing, Impact on constructions contracts, VAT compliance return policy by customers, Prorata basis of allocation of AMC, Review of contracts
Working on impact study on IFRS-16 and implementation across the Group.
Process Re-engineering based on VAT Policies & Procedures
Corporate Re-structuring or De-merger - Functional Requirement Documentation and Advisory work on transferring Business Units from Holding to Subsidiary Companies.
Registration of Tax Group at FTA.
Instituting the financial and accounting policies & systems; establishing product line profit & loss statements to identify opportunities & risks; discussing the business plan with the Senior Management Team for corporate policy development
Steering overall financial operations encompassing annual operating plans (AOP), budgeting, reporting, consolidation of financial statements, taxation, auditing and so on for 4 LLC& 1 FZCO companies involving about 66 international brands and 1700 more shops in UAE
Establishing internal control disciplines throughout the region towards maintaining integrity & accuracy of financial reports
Monitoring project valuations as well as valuations based on financial projections; conducting effective operational analysis & strategic recommendation to company’s management team
Steering the treasury function with responsibilities including long & short-term funding, economic & industry comparisons, business MIS and reviews, strategic & annual planning
Assessing & analyzing organization’s revenues, liabilities, credit conditions, and other financial indicators to forecast its short, medium, and long-term cash flow position
Ascertaining the process of payment for overseas & local vendors, permitting the Group Companies’ Payments
Collaborating with banks & financial institutions for fund raising; utilizing funds to meet working capital and project requirements
Devising audit plan for the year and ensuring that the internal audits are completed within timelines; liaising with the External Auditors during the year-end to represent the overall disclosures in financial statements
Understanding and coordinating for business needs& enhancements; formulating strategies for development of New Customized Information System as per organizational needs
Providing end-to-end management of projects from conceptualization to the final execution of projects; interfacing with different teams for business requirements gathering, analysis & finalization of specifications and service delivery
Directing as team of 6 for rendering support to clients 24/7 as per the requirement for confirmation & approval
o Support Team
o Corporate Team
o Accounts Payable Process
Recommending and implementing operational service improvements; adhering to corporate quality compliances, and other corporate quality initiatives
Working as Team Member of Implementation of Oracle; devising Import & Export operations for managing Auto Payment & taking confirmations as well as regulating treasury function
Administering accounting functions; heading finance functions involving determining financial objectives, designing & implementing systems, policies & procedures to facilitate internal financial and process controls
Conducting financial due-diligence for acquiring the assets and takeover of existing business set-ups
Executing systems, procedures & manuals for preparation & maintenance of statutory books of accounts & financial statements, ensuring compliance with statutory requirements
Simplifying formulation of various accounting & budgetary policies, while observing the daily computerized accounts
Analyzing the posting of GRNs in WMS and Microsoft Navision (ERP based Accounting Software) on Import Shipments and Inter-Company Transactions
CA
Advance Accounting, Advance Cost Accounting and Taxation, Economics, Statistics and Operation Research
Costing & Taxation, Economics, Statistics, Accountancy, Commercial Law, Business Administration
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